Fee-conscious superannuation members could be tempted to choose passive, indexed options over the default balanced portfolio. After all, fees can have a drastic impact on members' retirement outcomes. A typical worker will retire with $100,000 less if their fees increase by just 0.5 per cent a year, according to the Productivity Commission, which concluded higher fees are clearly associated with lower net returns over the long term.

But returns rather than costs are what investors should be focused on, say research houses including Chant West, SuperRatings and Rice Warner.